Georgia’s Finance Minister joins 51st Annual Meeting of Asian Development Bank

Georgia’s Finance Minister Mamuka Bakhtadze is at the 51st Annual Meeting of Asian Development Bank (ADB) in Manila, the capital of the Philippines.

Bakhtadze participated in the ADB Constituency Meeting and also attended the annual meeting of the Central Asia Regional Economic Cooperation (CAREC).

Our meetings continue in #Philippines where we attended @ADB_HQ constituency and #carec annual meetings. I had an opportunity to speak in regards to our economic policies and the leading role of #georgia as the regional hub. Specifically highlighting role of the #BRI initiative.

— Mamuka Bakhtadze (@BakhtadzeMamuka) May 3, 2018

At the CAREC annual meeting held on the sidelines of the 51st Annual Meeting of ADB, Bakhtadze highlighted that Georgia is the only country in the region which has a free trade regime with both the European Union and China.

We are actively involved in all regional projects. The Central Asian region is rich in mineral resources. This is a very interesting market. However, we need to better integrate this region into the world economy”, said Bakhtadze.

Georgia is the only country in the region which has a free trade regime with both the EU and China. I think ties between Europe and Asia will significantly improve the GDP indicator in the region. We have two challenges in this aspect. If you look at the strategies of the countries, located along the Silk Road initiative, all countries make active investments in infrastructure and of course we need more connections”, he added.

Georgia's Finance Minister participated in the ADB Constituency Meeting and also attended the annual meeting of the Central Asia Regional Economic Cooperation (CAREC). Photo: Georgia's Finance Ministry. 

Within this initiative we are discussing the possibility of building the first joint border point together with Azerbaijan. Also, I would like to emphasise the importance of the private sector involvement, since the economic model will not be effective without the private sector. In this regard, the experience of Asian Development Bank is important”, he continued.

I would like to thank the Asian Development Bank for implementing private public partnership in Georgia. The region needs more sustainable development. This requires development of small and medium enterprises. Creation of synergy between CAREC and BRI initiatives is important and we should use it. Georgia is very willing to do this in the near future”, said Bakhtadze.

The 51st Annual Meeting of ADB started today and will continue until May 6th.